Voluntary
Age and Service Requirements for Voluntary Retirement
Eligibility is based on your age and the number of years of creditable service
and any other special requirements. If you meet one of the following sets
of requirements, you may be eligible for a voluntary immediate retirement benefit.
An immediate annuity is one that begins within 30 days after your separation.
60 |
20 |
None |
MRA* |
30 |
None |
MRA* |
10 |
None
(Note: Annuity is reduced by 5% for each year the employee is under age
62.) |
Any age |
25 |
You must retire under special provisions for air traffic controllers,
law enforcement or firefighter personnel. |
50 |
20 |
Any age |
25 |
OPM must have determined that your agency is undergoing a
major reorganization, reduction-in-force, or transfer of function. |
50 |
20 |
*Determine Your MRA
1948 |
55 years, 2 months |
1949 |
55 years, 4 months |
1950 |
55 years, 6 months |
1951 |
55 years, 8 months |
1952 |
55 years, 10 months |
1953 to 1964 |
56 years |
1965 |
56 years, 2 months |
1966 |
56 years, 4 months |
1967 |
56 years, 6 months |
1968 |
56 years, 8 months |
1969 |
56 years, 10 months |
After 1969 |
57 years |
MRA (Minimum Retirement Age) + 10 Retirement
Age Reduction
If you have 10 or more years of service and are retiring at the Minimum Retirement
Age, your annuity will be reduced for each month that you are under age 62.
The reduction is 5% per year (5/12 of a percent per month). However,
your annuity will not be reduced if you completed at least 30 years of service,
or if you completed at least 20 years of service and your annuity begins when
you reach age 60. You can reduce or eliminate this age reduction by postponing
the beginning date of your annuity.
Postponing the Beginning Date of Annuity to Reduce or Avoid the Age
Reduction
You can reduce or eliminate the age reduction if you choose to have your annuity
begin at a date later than the Minimum Retirement Age (MRA). You can choose
any beginning date between your MRA and 2 days before your 62nd birthday. However,
you cannot begin your annuity while you are reemployed.
If you postpone the beginning date of your annuity, you should be aware
of the following—
Life Insurance
You cannot continue your life insurance coverage unless you are receiving an
annuity. Therefore, if you
Postpone the beginning date of your annuity, your life insurance enrollment
will terminate. When your annuity begins, the life insurance coverage you had
when you separated from your employment will resume.
Health Insurance
If you postpone the beginning date of your annuity, you will be eligible to
temporarily continue your health benefits coverage for 18 months from the date
of separation from your employing agency; however, you must contact your agency
within 60 days and pay the total premium, plus a 2% administrative charge.
When your annuity payments begin, you will again have the opportunity to enroll
in a health benefits plan under the regular Federal Employees Health Benefits
Program, and OPM will pay the Government share of the premium.
Long Term Care Insurance
If you already have Long Term Care Insurance Coverage when you separate for
retirement, but postpone the commencing date of your annuity, your coverage
will continue as long as you continue to pay premiums. If you are not enrolled
in the Long Term Care Insurance Program when you separate for retirement, you
can apply for enrollment anytime after your separation, even if you postpone
the commencing date of your annuity.
COLAs
If you delay your annuity beginning date, your annuity rate will not include
any cost-of-living adjustments (COLAs) that occur before you begin to receive
the annuity. Once your annuity begins, you will be entitled to COLAs on any
portion of your annuity which was computed under CSRS rules. However, you will
not receive COLAs on the FERS part of your benefit until you are 62.
Survivor Benefits
If you defer receipt of your annuity and die before you begin to receive it,
your spouse can still receive FERS survivor benefits.
Computation of Annuity
Go to the Computation Page to see how an annuity
is calculated.